With a commitment to promoting a sustainable gaming sector and safeguarding players' rights, the MGA embarked on the development of the ESG code in 2022. The objective is to guide licensees in preparation for upcoming ESG legislation, such as the EU's Corporate Sustainability Reporting Directive, and enable them to benefit from running sustainable operations.
The draft ESG code aims to facilitate self-regulation and help remote gaming companies align with industry best practices. By doing so, they can effectively meet the evolving expectations of key stakeholders in the sector. Developed over a period of six months, the draft code underwent three extensive stages: peer review and research, materiality assessment, and stakeholder interviews. The pre-consultation activities ensured that the code is well-informed, reflecting the industry's ESG priorities and stakeholder expectations.
The MGA now invites key stakeholders to provide their final feedback on the draft ESG code. While currently applicable to remote gaming companies, the MGA is also exploring the possibility of extending its scope to include the land-based sector in Malta in the future, with necessary adaptations to ESG disclosures. By actively participating in the consultation process, licensees have the opportunity to shape the voluntary ESG Code of Good Practice and contribute to a sustainable and responsible gaming sector.
About ESG
All companies have a role to play in ESG factors. At BDO, we know that one size does not fit all. Whether you are starting with a sustainability self-assessment or adapting your ESG reporting to comply with new regulations, we will meet you where you are.
We see sustainability as the long-term objective, and ESG factors as tools to set goals and measure and report progress. Ultimately, it’s about reducing risk and building sustainable value. Our seasoned ESG professionals offer practical, actionable guidance and can assist gaming licensees to start their ESG Journey and direct themselves towards integrating an ESG framework within their business strategies.